Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
Last Published: 4/5/2019

Burkina Faso offers the potential to exploit the large West African francophone market. Burkina Faso is a member of the West African Monetary and Economic Union (WAEMU), which is also headquartered in Ouagadougou, and its currency is the Community of Francophone Africa (CFA) Franc. The CFA Franc, backed by the French treasury, trades at a fixed rate with the Euro, and is fully convertible.

Foreign investment in the gold mining sector has boosted Burkina Faso to become the fourth-largest gold producer in Africa. Companies involved in mining equipment manufacturing, finance and investment, geophysical mapping, and consulting are well placed to benefit from the revitalization of Burkina Faso‘s mining industry.

After being ranked 146th in 2017, Burkina Faso is listed as the 148th best place to business in the 2018 World Bank “Doing Business” report.  This is based upon the country’s political, economic, and legal institutions, and the relative efficiency of its regulatory processes.  Effective in 2010, Burkina Faso reduced the corporate income tax rate from 30 percent to 27.5 percent (this rate is progressive both for public corporations and limited liability companies but it is unique for physical persons).  The tax on dividends went from 15 percent to 12.5 percent.  Investment and mining codes permit full repatriation of profits, 100 percent ownership of companies, and many tax exemptions.
Competitively priced necessities such as generic pharmaceuticals, fertilizers, transportation services, electric machinery, fuel, cereals, and cotton-related services are also well positioned to enter the market.

It is also worth mentioning that Burkina Faso is currently in the process of developing a second Millennium Challenge Corporation (MCC) compact.  The compact will focus on the energy sector, including policy reform and capacity building, energy (especially solar) production, and strengthening and expansion of the current electricity grid.  It is possible that U.S. exporters will find some targeted opportunities for investment.

The government of Burkina Faso publishes information on investment opportunities on its Presidential Council for Investment website.
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.